Springfield Properties PLC Progressive publish new research

RNS Number : 7574D

Springfield Properties PLC

20 February 2024

Springfield Properties plc:

On track as market recovery builds momentum

Today's interim results show that Springfield remains on track to meet FY24E expectations for both earnings and, helped by profitable land sales, debt reduction - amid gathering signs of recovery in all three of Springfield's sectors: private sales, affordable housing and, as Scotland's rent controls end, private rental. We maintain our FY24E and FY25E estimates but suggest our volume forecasts may be conservative. We believe the Barratt Redrow deal could highlight Springfield's low valuation.

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